reinsurance
noun
re·in·sur·ance
ˌrē-ən-ˈshu̇r-ən(t)s 
ˌrē-ən-ˈshər-,
also (ˌ)rē-ˈin-ˌshu̇r-,
(ˌ)rē-ˈin-ˌshə̇r-
: insurance by another insurer of all or a part of a risk previously assumed by an insurance company
Examples of reinsurance in a Sentence
Recent Examples on the Web
The reinsurance industry, which financially backs home insurers and other insurance companies, pumped money into prehistoric hurricane research to better understand the risk of major storms.
—
Dino Grandoni, Washington Post, 1 July 2024
Berkshire owns the leading auto insurer, Geico, and offers reinsurance through its subsidiaries, General Re Corp. and National Indemnity Co. Buffett’s company also expanded its presence in the insurance space with its $11.5 billion acquisition of Alleghany Corp. in October 2022.
—Orianna Rosa Royle, Fortune, 26 June 2024
States and the federal government need to substantially increase investments in community risk reduction, home fortification and loss mitigation, and develop strategies to reduce insurers’ overreliance on unregulated, global reinsurance.
—Betty Lin-Fisher, USA TODAY, 17 Mar. 2024
Global Atlantic’s O’Shea said a return to the office after Covid was a no-brainer for the provider of annuities, life insurance and reinsurance.
—Kenneth R. Gosselin, Hartford Courant, 21 Feb. 2024
See all Example Sentences for reinsurance 
Dino Grandoni, Washington Post, 1 July 2024
Berkshire owns the leading auto insurer, Geico, and offers reinsurance through its subsidiaries, General Re Corp. and National Indemnity Co. Buffett’s company also expanded its presence in the insurance space with its $11.5 billion acquisition of Alleghany Corp. in October 2022.
—Orianna Rosa Royle, Fortune, 26 June 2024
States and the federal government need to substantially increase investments in community risk reduction, home fortification and loss mitigation, and develop strategies to reduce insurers’ overreliance on unregulated, global reinsurance.
—Betty Lin-Fisher, USA TODAY, 17 Mar. 2024
Global Atlantic’s O’Shea said a return to the office after Covid was a no-brainer for the provider of annuities, life insurance and reinsurance.
—Kenneth R. Gosselin, Hartford Courant, 21 Feb. 2024
See all Example Sentences for reinsurance
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“Reinsurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/reinsurance. Accessed 7 Jul. 2024.
Copy CitationLegal Definition
reinsurance
noun
re·in·sur·ance
ˌrē-ən-ˈshu̇r-əns, -ˈin-ˌshu̇r-
: insurance or indemnification by a second insurer of all or part of a risk assumed by another insurer as contracted for by the first insurer see also cede compare direct insurance, retrocession sense 3
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